Kevin Peachey

A YouGov survey of 4,600 UK adults found that 73% would take a guaranteed £50,000 rather than accept a 50% chance of winning £1 million; 21% chose the gamble and 6% were undecided. Women were more risk-averse than men, while younger adults were more willing to choose the gamble than those aged 65 and over. The article links these choices to income levels, loss aversion and the psychological preference for certainty, while noting that saving or investing the guaranteed money could potentially produce substantial long-term growth. Sarah Coles of AJ Bell said a £50,000 investment in a typical global fund nearly 38 years ago could have grown to £1 million, although past performance does not guarantee future returns.

Searches on Rightmove for rental properties allowing pets fell by 54% in May and 52% in June compared with the previous year, despite England’s Renters’ Rights Act preventing landlords from unreasonably refusing pets. Letting agents say tenants may misunderstand the rules and assume permission is automatic, while landlords and their representatives cite risks including property damage, unsuitable homes, allergies and the lack of a legal right to charge extra deposits or require insurance. Tenants and pet-rental advocates argue that landlords should assess individual animals and circumstances fairly. The law still permits refusals for valid reasons, and landlords can recover proven pet-related damage from tenancy deposits, but cannot impose pet surcharges.

Searches on Rightmove for rental properties allowing pets fell 54% in May and 52% in June year-on-year after England’s Renters’ Rights Act came into force. The law prevents landlords from unreasonably refusing pets, although valid grounds for refusal remain, including allergies, unsuitable property size and lease restrictions. Letting agents say some tenants mistakenly believe approval is automatic, while landlords remain concerned about damage and limited powers to require insurance or extra deposits. Tenants and pet-rental advocates argue that requests should be assessed individually rather than through blanket restrictions.

The government will cut VAT on household electricity from 5% starting 1 October, saving typical households about £45 annually. The measure will be funded by cancelling a planned £1.8bn digital ID programme and is expected to cost £850m this financial year. All household customers, including those on fixed tariffs, will benefit, along with small businesses, charities and care homes eligible for reduced rates. The change applies across Great Britain, with equivalent funding provided to Northern Ireland. The announcement follows Andy Burnham’s appointment as prime minister and John Healey’s move to chancellor in the new cabinet.

Andy Burnham begins his premiership by prioritizing cost-of-living relief, signalling possible adjustments to personal tax allowances, housing initiatives, and energy bill reforms. Maintaining Labour’s manifesto commitments, he rules out raising major taxes but may consider alternative tax measures while adhering to fiscal rules. Energy affordability remains a challenge, with potential social tariffs under discussion as household debt rises. Transport fares and housing affordability are expected to be early focus areas, building on Burnham’s regional policies. Broader decisions on benefits, social care, and the state pension triple lock will shape the financial landscape as external events continue to influence living costs.

Andy Burnham begins his premiership by prioritising the cost of living crisis, signalling potential changes to personal tax allowances while adhering to Labour’s pledge not to raise major taxes. Possible reforms include property tax changes and adjustments to capital gains tax, though these would require difficult fiscal trade-offs. The government is expected to maintain fiscal rules, and experts warn of economic volatility affecting household finances. Burnham pledges action on energy affordability, public control of essentials, and support for vulnerable consumers amid rising energy debt. Transport fare policies, expanded homebuilding, and mortgage accessibility reforms are also under consideration. Decisions on benefits, social care reform, and adherence to the state pension triple lock will shape his early agenda, with external global events likely to influence outcomes for household finances.